Saturday, May 31, 2008
History doesn’t repeat itself, but it does rhyme
"The probability of a 1930s-style economic black hole ... is virtually nil". As for the '70s, back then both prices and wages spiraled. But in 2008 "have you asked for a raise lately?" --- So it's not the '70s all over again, nor the '30s. It's a very different world, and we're making it up as we go along.